International Blockchain TechForum • Hawthorn VIC 3122, Australia

Joni Pirovich

Talk summary

The legal and economic implications of decentralisation – both nationally and internationally - are not well understood. Other countries are moving quickly ahead with the experimentation and adoption of blockchain technology across government and industry, and by doing so are gaining great insight into the challenges and opportunities of decentralisation.

Whilst the experimentation and adoption of blockchain technology may be moving at a slower pace in Australia, from a tax perspective we are having to advise on the Australian tax implications of dealings in cryptocurrency and various blockchain projects overseas. As a result, we are having to tussle with traditional tax and legal principles to determine whether they apply and if not, what sort of standard should apply to achieve fair tax and economic outcomes.